A growing number of wealthy investors in recent times have been increasing their transactional volume in Bitcoin’s market, triggering the flagship crypto to trade above the $47,500 price level.
Data obtained from Bitcoin Block Bot, a crypto analytic tracker, revealed that an unknown BTC whale has just transferred 3,334 BTC ($160M) in block 670,275.
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Whale alert! 🐋 Someone moved 3,334 BTC ($160M) in block 670,275 https://t.co/oyT2eOc9bc
— Bitcoin Block Bot (@BtcBlockBot) February 12, 2021
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Prevailing market conditions at the flagship crypto market reveal large crypto investors and traders are moving large stacks of Bitcoins which are typically known as Bitcoin whales.
Global investors and crypto-traders are now holding on to the world’s most prized crypto though it’s often difficult in anticipating market movements in the ever-changing crypto market. Bitcoin whales have shown historically that they often determine the BTC trend.
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At the time of drafting this report, Bitcoin traded at $47,660.46 with a daily trading volume of $83.6 Billion. Bitcoin is up 2.29% for the day.